Asset Acceptance's own admission about re-aging
Date: Thu, 11/10/2005 - 16:25
From Asset Acceptances website
[quote][color=green][/color] Asset Acceptance purchases charged-off debt from credit issuers, consumer finance companies, retail merchants, telecommunications and other utility providers, as well as resellers and others. Asset Acceptance is committed to recovering the amount owed - even if it takes several years[/quote]
Apparently they also mean even if the debt has gone past its statute of limitations, and has to be illegally reaged to do it...
[quote][color=green][/color] Asset Acceptance purchases charged-off debt from credit issuers, consumer finance companies, retail merchants, telecommunications and other utility providers, as well as resellers and others. Asset Acceptance is committed to recovering the amount owed - even if it takes several years[/quote]
Apparently they also mean even if the debt has gone past its statute of limitations, and has to be illegally reaged to do it...
Here comes the fdcpa law when a creditor, collection agency or a
Here comes the fdcpa law when a creditor, collection agency or a credit bureau is restricted and penalized if the accounts are re-aged by changing the date of last activity on the credit file. Negative information is tried to be kept for longer period. This is violation under Consumer protection afforded by the FCRA Section 605 and can be sued up to $1000
